The members of a banque populaire may not, under any circumstances, at any time and in any form whatsoever, receive in repayment of their contribution a sum in excess of the paid-up portion of the shares they hold. In particular, the reserves and provisions constituted by the company may not be distributed among its members.
When, after repayment of the company’s debts, including advances of any kind granted by the federal bank, liquidation costs and the paid-up portion of the shares, the dissolution or liquidation of a banques populaires shows a surplus of assets, the amount of this surplus is paid into the collective guarantee fund instituted by article L. 512-16. However, the central body of the caisses d’épargne et des banques populaires may allocate…
The provisions of article L. 512-8 are applicable, after repayment of advances of any kind received from the central body of the caisses d’épargne et des banques populaires, to the surplus assets of a company which has lost, for whatever reason, its status as a banques populaires. In the absence of an amicable agreement, the amount of this surplus is determined by an expert chosen by the company’s Extraordinary General…
The Banques Populaires network comprises the Banques Populaires, the sociétés de caution mutuelle granting them exclusive guarantee rights under the Articles of Association and the Société de Participations du Réseau des Banques Populaires.
In order to guarantee the liquidity and solvency of the banques populaires network, the central body for savings banks and banques populaires referred to in Article L. 512-106 has at its disposal the guarantee funds recorded in the accounts of the société de participations du réseau des banques populaires, which, if used, it may decide to replenish by calling on the banques populaires to make the necessary contributions.
The use of the words “banque populaire” as a title or qualifier is prohibited for any company other than those mentioned in this section.
The agricultural credit unions governed by this section are the caisses de crédit agricole mutuel and the organe central du crédit agricole. The caisses de crédit agricole mutuel comprise : 1. Les caisses régionales de crédit agricole mutuel définies à l’article L. 512-34; 2. The caisses locales de crédit agricole mutuel affiliated to the caisses régionales mentioned in 1. The local and regional mutuals are cooperative companies.
The main purpose of the caisses de crédit agricole mutuel is to facilitate and guarantee transactions relating to agricultural production and agricultural and rural equipment carried out by their members.
The Caisses de Crédit Agricole Mutuel admit as members agricultural groups or their members, communities, associations and organisations, the list of which is set by decree, as well as rural craftsmen employing no more than two workers on a permanent basis. However, the Articles of Association may provide that the Caisses de Crédit Agricole Mutuel may admit as members persons for whom they have carried out one of the transactions…
The capital of the caisses de crédit agricole mutuel may not be formed by share subscriptions. It must be formed by member-policyholders by means of shares. These shares are in registered form. They are negotiable, but their transfer is subject to the approval of the caisse’s Board of Directors. The caisses de crédit agricole mutuel can only be formed after a quarter of the share capital has been paid in.
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75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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